The four-week moving average of first-time filings for unemployment benefits fell by 7, 000, to 408, 000.
The four-week moving average dropped 8, 250 to 351, 750, representing the the lowest level since March 2008.
The four-week moving average however, rose to 386, 250, which marks the highest level since December.
The four-week moving average of jobless claims also tells an improved story, with the latest average falling, not rising.
The four-week moving average decreased by 12, 750 to 388, 500, marking the lowest level of jobless claims since the spring of 2008.
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The four-week moving average, which is helpful in smoothing out the ups and downs of the weekly figures, was down 6.2%.
Earlier Thursday, the government reported initial jobless claims jumped by 41, 000 to 626, 000, while the four-week moving average rose by 39, 000 to 582, 250.
On Thursday Jobless Claims came in above expectations as the four-week moving average rose to 361, 250, which keeps this measure above the 350, 000 recessionary threshold.
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The four-week moving average for new claims ticked up to 370, 250.
The four-week moving average was at its lowest level in more than 2 years, signaling a possible return to the job market for many U.S. workers.
Nevertheless, the four-week moving average of jobless claims fell by nearly 6, 000, to 375, 000, still a multi-year low and still below the critical level of 400, 000.
The four-week moving average was lower by 2, 750 to 346, 750.
In notable economic news this week, the number of Americans filing new claims for jobless benefits fell last week while the four-week moving average also hit a near five-year low.
The four-week moving average decreased by 12, 500 to 414, 000.
That said, the market is full of conflicting signals right now with August consumer confidence down by 25 percent, July pending homes slipping, and the four-week moving average of mortgage applications also dipping.
The four-week moving average of new jobless claims, a better gauge of underlying labor trends because it irons out week-to-week volatility, rose to 375, 250 from 372, 000 the week before to the highest reading since April.
In the employment picture, the important four-week moving average of new unemployment claims fell again, and is now at its lowest level since March, 2008, providing evidence that the big jump in new jobs over the last several months was not a temporary blip.
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The increase was tempered by a decline in the four-week moving average, which smooths out week-to-week volatility and fell to 431, 000, from 436, 750 the week before, its lowest level in two years and approaching the 425, 000 level economists look to as a signal of a sustained decrease in unemployment.
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